Any novice trader that comes to the cryptocurrency market, is willing to find the best way to buy crypto. First, it may be challenging, because different crypto platforms offer different conditions, many exchanges are too difficult to handle, while others lack credibility.
In this article, we will talk about the safest ways to buy crypto and a step-by-step guide on how to do it.
A cryptocurrency exchange platform is a service that enables different operations with digital assets. Platforms can be of two types:
Buying crypto on a centralized exchange is the safest and the most secure way. Platforms like Binance, Coinbase, WhiteBIT, OKEx, and other centralized exchanges provide a high level of protection for users’ funds, offer a wide array of crypto assets, and numerous earning opportunities. Besides, as a rule, they feature a user-friendly interface and even educational sections for beginners.
Decentralized exchanges are meant for relatively experienced traders. They do not provide users security and act as intermediaries between users who swap their assets at their own risk. This option is suitable for operating small sums and instant exchange and unsuitable for longer-term investments.
Anyway, to start trading, one should, first of all, buy cryptocurrency. For this, one needs a platform that would allow the purchase of digital assets with fiat currencies. Let’s consider WhiteBIT.
A guide on how to buy crypto on WhiteBIT
The centralized exchange WhiteBIT allows buying crypto with fiat currencies and using bank cards. The service’s fee size is on average 0,1%, but users should consider the additional percentage of banks.
Here are simple steps on how to buy crypto on WhiteBIT:
- Enter the official website of the exchange
- Create an account
- Deposit an account with fiat money through a bank card
- Choose the needed cryptocurrency and buy it. Then a user can sell it and swap it for another coin.
The exchange offers over 400 crypto pairs, including pairs with fiat.
To access a wide array of features and earning opportunities, one should pass the KYC verification process. Usually, it takes 24 hours for the exchange to check the user’s past activities. If nothing illegal is noticed, the user may start using all the trading tools available on the platform.